Muscle Pharm Corporation (MSLPQ)

[Madcowelixir]

Check out how CEO Ryan keeps his goofy car collection displayed in the MusclePharm HQ Gym. The Lambo and the Porsche are his dad Halberts but Ryan is sporting the pick up and such. The folly begins at 1:20 into this video

[stupified777]

Lol

[SLC-JD]

But their instagram feed is killer!

[Madcowelixir]

If you have a dime and a nickel, you can own a share of this dying company. And you thought CEO Brad ran it poorly.....

[turokman]

settling a lawsuit is sometimes a good thing , they had a liability marked on their books for this one . $mslp

[turokman]

I lost a lot of money here and you were right through all your aliases . I’ll never forget goldbond . What do you think of $DEAC I’m over there pumping that one now .

[Madcowelixir]

Another HUGE loss in court for Drexler and MSLP in a protein spiking lawsuit in addition to the $1.7m final damages awarded to ThermoLife after Drexler and MSLP lost again. https://www.reuters.com/article/health-musclepharm/in-brief-musclepharm-to-settle-schwarzenegger-protein-supplement-case-idUSL2N27M1NA

[MikeyInTheD]

The new COO has zero experience in any industry even close to MSLP. He founded a company no one has ever heard of in 2010, bestowed fancy titles on himself and now the company went under I assume so he needed to find a real job. Does he offer anything the company is in need of right now? Can he lead a push in marketing, gains in operational efficiencies on either the manufacturing or purchasing side of the business or maneuvering the stock to greater visibility in an effort to right the ship? Anyone with common sense is jumping ship and MSLP is now stuck hiring whoever will take the job.

[PENNIEStoSTACKS]

You all see this NEWS ? https://finance.yahoo.com/news/indo-global-exchange-pte-ltd-132000861.html

The Merging Company has very tasty Products and is Run by
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152892152

[love4852]

https://www.biospace.com/article/releases/thermolife-awarded-nearly-1-7-million-dollars-in-lawsuit-against-musclepharm/

[SLC-JD]

It reminds me of that ages old philosophical connundrum: If the SEC halts trading on a stock with no volume, does anyone notice?

[elkonig]

So when is the SEC suspension hammer going to hit this garbage ticker MSLP for delinquent filings? Must be coming shortly!

[MikeyInTheD]

The share count for MSLP is tiny compared to most OTC companies. The company could get to $14 a share again if management didn’t run the company into the ground and blow all customer support. They were a middle of the road product that lost all market visibility with consumers. They aren’t the cheapest product and higher end athletes think their products are a joke. I’ve used their products for 10 years and invested on and off over that same period of time. I’ve been out of the shares for a couple years now and think the company is going to continue to struggle. Their single best product ever was the energy drink and they blew that opportunity. I’d still drink it daily if it was available. Tasted great, more energy than Red Bull or Monster and MSLP could have angled the product even more for athletes. I sold about the time they discontinued the energy drink and several other popular SKUs - it was obvious at that time the new management did not respect customers or shareholders. The company will get taken private eventually because there is some brand value remaining and a volume-producing deal with Costco. I won’t be buying shares anytime soon and hope everyone can exit at a decent price before the bottom falls out.

[MikeyInTheD]

34M isn’t a massive share count so that doesn’t scare me at all. If operations could support the valuation I wouldn’t care if they doubled the share count from here.

I called in May for the shares to bounce around .25 for an extended period and a buyout offer to come at .35. I think we are nearing that reality. The company is worth between .25 and .35 unless facts on the ground change. The company no longer commands premium pricing and has lost public visibility as a household name. Product still sold at Costco which does create very low margin volume.

[Madcowelixir]

NEW O/S of over 34.3M shares. Dilution...dilution...dilution.

[Madcowelixir]

30% of the pre-convert OS are owned by Wynnefield and White Winston and they are not interested in .70c tender. Wynn is still adding at a basis of $4 and WW is holding at $2 and has shown they are willing to sue. Very dumb and unsophisticated post on potential tender. This is Ryan injecting necessary capital as MSLP has no cash left and still owes 2 shylock lenders that hold inventory and receivables as collateral. This shows there is no lenders interested in MSLP and Ryan must fund the liabilities himself to temporarily stave off BK which really has already occurred. Ryan personally guaranteed the two the shylock lenders and this $18m is going to them. What likely happened is the two lenders exercised their right to call the notes due immediately and Ryan was forced to cover or have the inventory confiscated.

A little caveat is Ryan was nearly voted out in last years shareholders meeting and Wynn has purchased enough shares recently to tip the vote. Ryan needed to convert or he would have been voted out soon. This should clear up the balance sheet and cut the horrific 18% interest expense on the debt. MSLP's accounting firm quit due to revenue reporting fraud so that fake $100m in annual rev is clearly over-stated.

[SLC-JD]

Sorry I wasn't clear - I expect Drex to make the offer. I suspect he's wanted to take this company private for quite some time. The recent and continued (and dare I say, convenient?) diminution of PPS coupled with his now majority stake make such a scenario even more plausible.

[stupified777]

Why would he sell at .70? Unloading company for just over $20 million, netting him $13 Million? Although I do feel there’s something with the timing in his conversion and the issuance of the board members stock awards, I don’t feel .70 a share is a realistic sell price. Maybe a realistic offer that they’ve received but not an offer that they’ll accept. $1.50? Ehhh $2.00? Ehhh optimistic? Maybe.
Do I think they could get 1x revenue for this company? Probably not...not with Drexler and his cronies running it and current financial health of the business. Do I think that another company would buy $80 to $100 million in sales for a discount at $1.5 or $2.00 a share? I do think that’s possible.

[SLC-JD]

The fact that there has been no comment about Drex's conversion/dilution/takeover says everything that needs to be said about this "company". Expecting to see that tender offer at $0.70/share any day now...

[Madcowelixir]

That is because 20% owner of the OS WhiteWinston has filed another restraining order against Drexler for hiding the books as he being investigated for fraud in his sister's divorce. This order should be granted immediately but the Justice System is full of judges that share a common heritage with Drexler so letter of law is just something that can be ignored.

[Stock_Dog]

Some buying the last couple of days . Only positive I can say about this POS.

[Madcowelixir]

I've been posting here for 4 years now that that the Financials are fake and I proved it many times.

[SLC-JD]

Given that the former auditor has indicated that both the FY 2018 and the 2019 financials filed to date are unreliable (and with nothing from the company save a "we disagree" statement to counterindicate the auditor's conclusion) I'd say that's arguably $2MM too high.

[Euripides90]

Anyone else-with-miniscule shares/value get-hit-with-$38.00 Reorganization-Fee?I have ONE share that's now worth .21c and didn't sell b/c it wasn't worth the commission obv. but TDA hit me with the full fee same as if I owned millions of shares - did you or others experience that? This is highway robbery that I don't think is legal or shouldn't be - anyone?

Haven't paid attn. to this company in a while~ looks like for those who do own more shares it's the usual post R/S bump & crash but value is way down from pre-R/S.

[Madcowelixir]

Best Bid is $ 0.15 cents currently. Puts market cap around $2m. That is what the best bid is telling you the company is worth today.

[Madcowelixir]

So Ryan's Accounting Firm called him a fraud and a criminal and resigned. Nice. Been telling you the Ponzi fraud has been going on for years. I am surprised that the SEC investigation or the TRO applied by White and Amerop hasn't been granted yet. That judge must share a common heritage with Ryan.

[Madcowelixir]

CEO Ryan will continue to hide financials until Billett/WW/Amerop suit has real action.

[SLC-JD]

What are Vegas odds on all/any of the past due filings being submitted by the 30th?

[Madcowelixir]

I realize the lawsuits. I have read and reviewed each action and update on PACER.gov. My comment reflects Amer/WW and BB are sharing information regarding the lawsuits. I am amazed the judge sided with Ryan on the injunction. I shared the NY Post article on the alleged transfer of $30m of assets to Ryan from Jodi in 2016. You are incorrect in Jodi "loaning" money to Ryan. Jodi is claiming she has no money nor loans/equity to anyone and has no significant marital assets to share with Bradford Billet.

The SEC should step in immediately and appoint an overseer of the company. MSLP has a long history of neutered SEC actions.

I also posted all screen shots of the Brad Pyatt bankruptcy filings here back in 2015.

[SLC-JD]

Close. They’re maintaining separate actions (WW alleged Drex is self dealing, Billet alleged that Drex utilizes marital assets in his loans to the company), but each has sited the other in pleadings, and both are asking their respective court to appoint a receiver to run the show and prevent Drexler from converting. WW has been trying to use discovery from the Billet trial, which Drew is fighting tooth and nail.

Until these cases are resolved, I don’t see the $.35 tender happening. Too much is up in the air WRT Drexler’s shares.

[Madcowelixir]

You know what this is about right? Amerop & White Winston joined in the lawsuit with Brad Billet against Ryan Drexler/ Jodi Drexler-Billet. Ryan is now withholding financials during this personal lawsuit because they have him and Jodi on fraud. The SEC is asleep at the wheel again.

[MikeyInTheD]

No much has happened - board is even fairly quiet nowadays. I am still disappointed such a promising company was run into the ground. I was one of the initial investors when the company first launched and have been out of the trade for quite some time. I did happen to catch a nice run when it looked like MP was about to become a household name and able to hold a $100m+ market cap. The float is still tiny and a couple smart moves by management and this could catch fire again. This problem is the management is subpar, the goodwill associated with the MP name has been ruined by failed product launches and bad PR and the history of the company creates distrust with investors.

My call is still that the shares close below .25 for several months and then a buyout is offered at .35.

[Madcowelixir]

Another CEO Ryan MSLP fighter tests positive for steroids. This time Neil Magny. When is the SEC and the FBI going to step in on this corrupt organization?

[Madcowelixir]

Even CEO Brad used to announce earnings report date 7-10 days ahead and scheduled conference call. How do you like CEO Ryan and his "shareholder value"? Anyone awake at the SEC or all they all monitoring Elon's tweets?

[Madcowelixir]

Q1 '19 Financials are due on Wednesday. Is CEO Ryan "I'm looking out for the shareholders" going to report or is the Ponzi Scheme shyster going to delay again after claiming fake numbers for the first 9 months of 2018? SEC, where are you?

[Madcowelixir]

NO FINANCIALS FOR OVER 6 MONTHS

And CEO Ryan issues a press release that the previous 9 months financials were fake!

What happened to the SEC monitor?

[Madcowelixir]

First CEO Ryan gives you 9 months of bogus revenues (like I said they were fake in real time) and then he doesn't report financials any more. Remember his words. He is looking out for the shareholders! Remember the SEC was monitoring MSLP after the last fraud? Sure they were.

[SLC-JD]

Shocked! Shocked I say! Failed to file timely (even with the extension). Anyone with restricted stock is dead in the water.

[Madcowelixir]

TJ is still compensated. Monster did not replace MSLP, just in addition to. TJ is a proven doper now and not just rumored as several UFC fighters have accused him previously including several Team Alpha Male athletes who said TJ was trying to push his PED program on them and guaranteed they wouldn't test positive.

https://www.instagram.com/p/Bq8Su5FgSe3/

[Madcowelixir]

10-k due today. Will it be filed?

[Ideeotsuhvont]

He is not a Musclepharm athlete anymore. Apparently he dropped them/they dropped him (not sure which) when he signed with Monster.

[Madcowelixir]

MSLP posterboy & endorsor TJ Dillashaw tests positive for PEDs. CEO_Ryan still has TJ all over his Instagram. Add to the list of MSLP endorsement deals with Mike Vick, Colin Kaepernick, Johnny Manziel, Tiger Woods, and the rest of the losers.

[thomasg]

Can’t believe they all got voted in,it was pretty close. Throw them all out.

[Madcowelixir]

Wynnefield has acquired enough shares since the Directors vote to vote out the current BOD

Here is the 2018 vote before Wynnefield acquired more shares.

[learning curve]

Hello, long long long time. What’s next, finally an interview to see how far one has developed?
I’d like to think I’m ready, but mslp no idea

[SLC-JD]

Yes - it was an interesting big of gymnastics for them to cite inaccuracies in the YTD numbers without addressing each quarter individually.

[Madcowelixir]

How about Ryan just releasing they faked the first 3 Qs of financials in 2018. I wrote here that MSLP is always seasonal and this $26m across the board Q1, Q2, Q3 was fake.

[SLC-JD]

Oh what tangled webs they weave...

So for the kids in the back, there are a few ongoing lawsuits that will likely materially impact the company in the coming months. While many on this board are aware of one or more of these, they have become linked to one another, changing the underlying claims in a way that may be detrimental to Drexler, Musclepharm, the shareholders, or all three.

1) Way back in 2013, Drexler's bro-in-law (Billet) began divorce proceedings against Drexler's sister (Jodi). The major bone of contention is Jodi's claim that she's broke (remember, she's one of the beneficiaries of the $100MM Country Life sale)...Billet doesn't buy it.

2) In late 2016, Billet sues Musclepharm, Drexler, Jodi, and a whole bunch of other players, claiming that Drexler was behind a conspiracy to launder Jodi's cash to keep it out of Billet's hands - specifically, that Drexler received Jodi's cash from the various trusts, and loaned it to Musclepharm. The damages claim was $43MM, and the RICO claim would allow for treble damanges.

3) I'll save you the time. This has not been disclosed in any Musclepharm SEC filing. In a subsequent filing by White Winston, Directors Bush and Desmond are both quoted as stating under oath that they first learned of the Billet lawsuit in September 2018, when Winston filed its discovery motion - nearly two years after it was filed.

4) In 2018, White Winston files a derivative action in NV against Musclepharm, Drexler, and the rest of the BOD claiming a breach of fiduciary duty. Prayer for relief includes appointment of a receiver. A TRO is granted prohibiting Drexler from selling his stock. The Case is approved for settlement negotiations; discovery is ongoing.

5) While all of this is going on, White Winston and Billet become aware of one another's actions; both go on to cite the other's lawsuits in pushing for appointment of a receiver.

6) White Winston wins a motion to conduct limited discover on Drexler & Musclepharm, seeking financial info previously obtained by Billet on the theory that it would show that Drexler did launder Jodi's money to secure his position in Musclepharm, and citing the potential outcome of the Billet suit as a reason to appoint a receiver.

7) Billet cites the White Winston action as a reason to appoint a receiver.

8) In Feb. 2019, After the NV court issues an order allowing limited discovery by White Winston, Musclepharm et. al. appeal. They lose. There's now a motion for reconsideration, and a concurrent joint motion for confidentiality and a protective order.

9) In an unrelated item, Musclepharm has launched a frivolous lawsuit against Obus for his open letter pointing out the financial performance of the company, and Drexler's compensation.

[MakeItRain88]

I’m still here.

[Madcowelixir]

Oh how the cheerleaders aka know as financial analysts have fallen: